Recent data points for personal loans? Need $25k < 12%

[Anonymous]

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@trnl2016 wrote:
Question: if you do a soft pull with one of these companies, how soon again can you try and expect to get different results? For example, I'm itching to check my rates now, but I also expect to see some gains in my credit report by the end of the month since I was able to pay down at least another 5% in utilization. Can I try each month or will they (within some time period) use the same report they soft-pulled from a recent request?

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The only one I know of that has a specific time frame is Prosper. If denied, they require a 120 day wait to app again. The others seem to have an app retention period, (for approvals), in the 30 day range. I've gotten expiration notices from several around that time frame.

[trnl2016]

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@Anonymous wrote:

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@trnl2016 wrote:
Question: if you do a soft pull with one of these companies, how soon again can you try and expect to get different results? For example, I'm itching to check my rates now, but I also expect to see some gains in my credit report by the end of the month since I was able to pay down at least another 5% in utilization. Can I try each month or will they (within some time period) use the same report they soft-pulled from a recent request?

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The only one I know of that has a specific time frame is Prosper. If denied, they require a 120 day wait to app again. The others seem to have an app retention period, (for approvals), in the 30 day range. I've gotten expiration notices from several around that time frame.

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Thank you, as usual! Will give one a go just so I can get a ballpark idea.

[trachkids]

Have you thought about app'ing NASA FCU? They offer a PLOC that your husband could apply for. I recently applied & got a $25k cc & their PLOC, $25k@8.5%. My utilization at the time of app was 22% & the EXP 2 (mortgage score), was 711 based on their disclosure notice after approvals.

I understand that your utilization is very high, but if it were me, I would attempt it before signing a high interest loan. Their membership doesn't cost anything & they pull 2 soft EXP pulls for membership & will use them if you apply for their credit products.

[trnl2016]

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@trachkids wrote:
Have you thought about app'ing NASA FCU? They offer a PLOC that your husband could apply for. I recently applied & got a $25k cc & their PLOC, $25k@8.5%. My utilization at the time of app was 22% & the EXP 2 (mortgage score), was 711 based on their disclosure notice after approvals.

I understand that your utilization is very high, but if it were me, I would attempt it before signing a high interest loan. Their membership doesn't cost anything & they pull 2 soft EXP pulls for membership & will use them if you apply for their credit products.

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Wow, this is great information! I had never considered it, but I'll talk to my husband about it. I just checked our rate with Promise Financial and they said they couldn't offer us anything (immediate denial) so that was pretty disheartening. I'll look into the NASA FCU thing, meanwhile continuing to boost the scores and drop the utilization. Thank you.

[trachkids]

That is what I did over the past 5mo. I was able to pay my balances down & add $144k in available to bring my utilization down from 64% to 9%. Good luck!

[trnl2016]

I'm pleased to say that by waiting a month, I was able to qualify for a loan with Upstart. $25,000 at 13.18% with $250 origination fee. Not quite the 12% I was looking for, but I'll take it! Thanks for your guidance, everyone.

[Appleman]

Congrats! You got fairly close to your goal and the origination fee is not bad.